Kathleen Daniels, Probate & Trust Specialist, Probate Real Estate  (KD Realty - 408.972.1822)

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Rainmaker
4,176,878
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

My strategy is determined property by property, market conditions in the specific neighborhood, and a client's motivation/need to sell sooner rather than later.

Jul 18, 2017 02:27 PM
Rainmaker
5,572,164
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

we find the fair market "range" of the home, and list at the upper end of that range....

Jul 18, 2017 02:22 PM
Rainmaker
1,956,855
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Depends on the property, location, and condition of the inside of the home.

Jul 18, 2017 06:50 PM
Rainmaker
1,231,599
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Ditto Nina Hollander 

Jul 18, 2017 03:33 PM
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4,308,090
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Like Barbara Todaro, I show the sellers the range and the top of that range is where we list 9 times out of 10. Some will think that listing low-to-mid range will bring in more Offers and wind up at a higher sales price than our high end of the range. However, that doesn't always work if the house isn't in top condition in a hot community.

Jul 18, 2017 03:16 PM
Rainmaker
1,644,482
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West - Carlsbad, CA
Presence, Persistence & Perseverance

It always depends on the needs of my sellers, condition of the home, location, and their timeframe

Jul 18, 2017 03:12 PM
Rainmaker
187,625
Erika Rae Albert, Austin Real Estate Expert
E*Rae Realty - Austin, TX
Exceeding Expectations in Every Transaction

Better to list lower than higher!  I don't think I would ever advocate for an "always" philosophy though.  Depends on many different factors, mostly the intricacies of the very immediate market.  Also depends on timing and it's important to price appropriately for price brackets defined by major search portals. 

Jul 18, 2017 01:46 PM
Rainmaker
4,139,446
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

It depends.

On the particular property.

On the market.

On the seller.

I try to refrain from words like "always".   Or "never".   

 

Jul 18, 2017 11:59 PM
Rainmaker
1,526,956
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

It is always a range. I just discussed it with a seller. There are consequences for going with low or high end of it. I try to list in the middle, but if on high end, we have a price reduction schedule in place( since all sellers now here from every corner: inventory is low! sellers' market! etc. ) 

Jul 18, 2017 10:31 PM
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Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

It depends on the property, the local market, and the seller. But in general I like to see the home listed in the middle to high end of the market range, unless other issues, like conditions and location, suggest otherwise

Jul 18, 2017 08:35 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Show them the comps, let them decide how serious they are about selling.

If not serious then walk away.

Jul 18, 2017 07:34 PM
Rainmaker
1,730,070
Lyn Sims
Schaumburg, IL
Schaumburg Real Estate Agent Retired

Price it tight. No wiggle room stuff.

I go above last comps slightly. Our market is on the rise & I'm taking advantage of that. Would not ever do 10% below unless it's on a rehab disaster. Our job is to get the seller the most amount of $$.

Jul 18, 2017 03:29 PM
Rainmaker
710,234
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Hi Kathleen. I run a business, I price at market value and I price to sell. I have a business to run. I do an RPA.

Jul 18, 2017 03:12 PM
Rainmaker
4,050,256
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Great question, I try to be within a couple thousand of the comps.

Jul 18, 2017 03:06 PM
Rainmaker
1,707,423
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

It depends upon the absorption rate. I may be able to set new highs with a 1 month, or go 7% below median listing price if it is 12 months.

Jul 18, 2017 02:36 PM
Rainmaker
4,264,901
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

It depends on the seller's reason for selling, the condition of the home and the state of the market. I tend to list at the high end of existing comps adjusted for the foregoing!

Jul 18, 2017 02:29 PM
Rainmaker
4,209,369
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

I'm with Debe Maxwell, CRS comments as long as the property is in top condition..if not the expectation of list price must be lower.

Jul 19, 2017 05:42 AM
Rainmaker
1,253,910
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

I price it right. They sell for "over or at" when you price them right...and both are acceptable to the sellers.

Jul 18, 2017 08:50 PM
Rainmaker
527,095
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

At the high end of the market value range if the house can compete on curb appeal, amenities, floor plan and lot location. If the house does not have the wow factor, list in the middle range but prepare the sellers for possibility of low range of market value. Back it up with detailed comps supporting the critical nuances that may not be apparent to the seller.

Jul 18, 2017 08:42 PM
Rainmaker
893,497
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

I price in accordance to what is justifiable.

IN some cases, I know it will not appraise so I advise the owner what strategies will work best.

The outline is community value, market condition and tangible assets.

Better still I let the owner calculate the value themselves. They rarely argue with them-self.

Of course establishing expectation and measuring response is crucial.

Jul 18, 2017 06:23 PM
Rainmaker
3,985,922
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I like the seller to set the price and then tell them what I feel.  Takes the monkey off my back when the sale doen't happen as fast as they thought it should

Jul 18, 2017 06:19 PM
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1,827,793
Alan May
Jameson Sotheby's International Realty - Evanston, IL
A moving experience!

Our area is still hot, hot, hot.

I like to price at, or slightly higher, than the market comps.  Properties in my area, that are priced reasonably, are selling.  No reason to price 5 or 10 percent below market value to attract multiple offers... when properly priced homes are doing that already.

Jul 18, 2017 05:47 PM
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Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

In our hot market I am recommending at the top of the range keeping in mind we still have to meet appraised value. So far so good.

Jul 18, 2017 05:34 PM
Rainmaker
1,924,612
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

I always start with the City assessors value and then I do a map search in our MLS of homes sold with-in a quarter mile of the subject in the last 12 months. When I go to the listing I ask what they think and then I either bring them around to reality or congratulate them on their wisdom.

Jul 18, 2017 05:00 PM
Rainmaker
652,549
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Santa Clarita & Aliso Viejo

I like to list slightly above the expected sales price but not so high that agents won't show the home.  Know the true market value is the key.

Jul 18, 2017 04:00 PM
Rainmaker
2,808,406
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

As a non real estate agent, listening to all the agents discuss this, I would prob. aim towards pricing just below or perhaps 5% below in the hope/expectation that it would drive prices up.  But, I would test this theory to see if it were actually true before using it as general mode.

Then before choosing/recommending a particular price, I would want to understand what's most important to my client and how important/unimportant timing is.  I'd rather be a bit lower than higher as too high can actually lengthen time on market and drive price down, so that would actually go against fiduciary duty.

10% below sounds like this may be too low, but that's my gut.  Seems like 5% would be more likely to drive up the price and result in highest return for a client.  But, I may be wrong.

If I were an agent, I'd probably be awesome at doing a CMA and knowing the data.  I might stink at everything else, but this would be an area of strength for me given my analytical skills and past experience with market analysis in other categories.

So given what I've heard, I'm more inclined to go 5% below to just below...or just above in some cases.

10% below here would be $65,000 on an average house...that's a lot below.  In some neighborhoods, it would easily be $100,000.  With those sort of differences, it seem that you are giving the house away a bit and doing your client a real disservice (unless speed was of the essence).  5% to just below sounds more strategic to drive the bidding war.

But then again, what do I know?

Jul 18, 2017 02:35 PM
Rainmaker
6,673,458
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks for sharing your listing strategy.

Jul 18, 2017 01:45 PM
Rainmaker
2,029,630
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

To be "King of the Hill" at THAT Price Point !!!

Jul 19, 2017 05:46 AM
Rainmaker
4,799,601
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

It depends on the local market and the sales price ratio for the past few months.

Jul 19, 2017 05:41 AM
Rainmaker
3,070,134
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Sandy Padula and Norm Padula, JD, GRI NMLS#1483386 nailed this one!

Jul 19, 2017 05:01 AM
Rainmaker
853,105
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Not too high and not too low. Depends on sellers needs and desires.

Jul 19, 2017 04:31 AM
Ambassador
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Kathleen Daniels - 10% below is NOT something that I'd like to do.

Just below market value is fine.

(Though who knows the market value of a product before it is sold?)

Jul 18, 2017 10:47 PM
Rainmaker
827,082
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

I propose a comfortable range; my preference would be to go below, which is what I recommend as that brings more traffic/offers, but sellers don't always "get it".

Jul 18, 2017 06:34 PM
Rainmaker
3,338,608
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I like to be just below the market value but some sellers are mandating listing higher or choosing another agent that will. 

Jul 18, 2017 06:15 PM
Rainmaker
2,648,422
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

A tad below market...never fails. Hitting the ground running works!

Jul 18, 2017 05:18 PM
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Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Priced to yield the highest possible net for the Seller.

Jul 18, 2017 04:36 PM
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Anna Banana Kruchten CRS, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Depends on the neighborhood and how it's trending up or down the last 3 months. Sometimes we price just a tad above and at times we've pushed it pretty far and got full price offers on 2 - certain neighborhood was moving up fast. Needless to say both sellers very happy with extra 30 to 40 K in their pocket.

Jul 18, 2017 04:28 PM
Rainmaker
1,114,305
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

The strategy currently in use is based on being the #1 Contender and the next home to sell in any particular neighborhood.

Jul 18, 2017 04:12 PM
Ambassador
1,616,354
Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

one that sells a home

Jul 18, 2017 02:32 PM
Rainer
352,876
Teri Pacitto
Compass - Westlake Village, CA
Real Estate, Your Style...Your Home...My Specialty

Understanding the market and knowing the inventory is first.  Being able to compare each property for its own merits (condition and location) and pricing accordingly.  Pricing backed by SOLD (most value) and pending sales have most merit.  

Homes priced correctly sell for the maximum price in our market. 

Jul 19, 2017 06:34 AM
Rainer
44,741
Dan Capra
LAER Realty Partners - Lowell, MA
Listing/Buyer Agent

Right now, price is below retail and expect a bidding war!

Jul 19, 2017 03:40 AM
Rainmaker
4,433,753
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Same as Nina '

Jul 20, 2017 09:00 AM
Rainmaker
1,394,169
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Do my darndest to get it right!  Try to price the house for the max it can get, unless directed otherwise by the client (ex: fast sale).

Jul 19, 2017 12:49 PM
Rainmaker
1,462,627
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Kathleen Daniels A well written CMA with proper adjustment will determine market value. I usually recommend pricing from the medium value to the top of the CMA based on condition, time on market, etc.

Jul 19, 2017 09:48 AM
Rainmaker
923,223
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

For me it depends on the seller, their expectations and tine frame etc.

Normally however, I do as you - slightly below the comps or lowest priced unit

Jul 19, 2017 08:23 AM